THE Australian dollar has continued to rise on surprisingly strong economic growth figures.

At 0700 AEST on Thursday, the local currency was trading at 92.77 US cents, up from 92.67 cents on Wednesday.

And the share market is set to open higher after Wall Street rose amid mixed US economic data.

At 0700 AEST, the March share price index futures contract was nine points higher at 5,454.

ELSEWHERE:

WASHINGTON — The US economy has turned to growth across the country, recovering at a “moderate” to “modest” pace after brutal winter weather, the Federal Reserve's Beige Book report says.

WASHINGTON — Activity in the US services sector, the driver of the world's largest economy, surged in May, a positive sign for growth in the second quarter.

WASHINGTON — US businesses pulled back on hiring in May, adding the fewest jobs in four months, a private survey shows.

WASHINGTON — A gain in imports against fairly flat exports pushed the US trade deficit higher for the fifth straight month in April, the Commerce Department says.

PARIS — Eurozone inflation picked up in April to 0.7 per cent, the OECD said on Wednesday, amid expectations that the European Central Bank will act on Thursday to avert the dangers of eurozone deflation.

LONDON — Britain's biggest retailer Tesco has suffered its largest quarterly drop in sales for four decades, it says, hit by supermarket price wars and the rising popularity of German-owned discounters.

NEW YORK — The Financial Industry Regulatory Authority has fined investment banks Barclays, Goldman Sachs and Merrill Lynch $US1 million ($A1.1 million) each for providing incomplete and inaccurate information about trades the companies conducted.

NEW YORK — A US federal appeals court has ruled that a lower court judge abused his discretion when he blocked a settlement between Citigroup and regulators over alleged mortgage-securities fraud.

DETROIT — General Motors says it is to release the results of an outside attorney's investigation into its mishandled recall of small cars.

BRUSSELS — Lithuania has passed a key hurdle to adopting the euro, paving the way to become the 19th member of the eurozone in 2015 and confirm its place within the heart of Europe.

SAN FRANCISCO — Google has stepped up its effort to make it tougher for spies or anyone else to snoop on email, unveiling Chrome browser software for scrambling digital messages.